Year Earning per share Dividend Per share 2018 2019 2021 2022 2.84 3.05 3.58 3.2 1.92 1.96 2.04 2.08 Book Value per share 20.06 22.94 25.28 25.39 27.35 ROE 14.30% 13.40% 13% 14.30% 11.50% This question counts 14 points. Thus, it is important that you show your calculation process. Simply providing the final answer for each part wi credit. You need to show what values you use in each equation and the final result. 2020 3.52 2 Given the above table, answer the following questions: (1) Assuming that AT&T has a beta value of 0.85, find the discount rate using CAPM model with Treasury bill rate of 4% and a historical market risk pre (2) Find the sustainable growth rate using the retention ratio calculated based on data in 2022. Given the above-calculated discount rate and the sustainable growth rate, estimate the stock price in 2023 using Dividend Discount Model and Residual Income Model: (3) Estimate the stock price in 2023 using Dividend Discount Model. (4) Estimate the stock price in 2023 using Residual Income Model.

This question counts 14 points. Thus, it is important that you show your calculation process. Simply providing the final answer for each part credit. You need to show what values you use in each equation and the final result. Given the above table, answer the following questions: (1) Assuming that ATsT has a beta value of 0.85 , find the discount rate using CAPM model with Treasury bill rate of 4% and a historical market risk p (2) Find the sustainable growth rate using the retention ratio calculated based on data in 2022. Given the above-calculated discount rate and the sustainable growth rate, estimate the stock price in 2023 using Dividend Discount Model and Residual Income Model: (3) Estimate the stock price in 2023 using Dividend Discount Model . (4) Estimate the stock price in 2023 using Residual Income Model. This question counts 14 points. Thus, it is important that you show your calculation process. Simply providing the final answer for each part credit. You need to show what values you use in each equation and the final result. Given the above table, answer the following questions: (1) Assuming that ATsT has a beta value of 0.85 , find the discount rate using CAPM model with Treasury bill rate of 4% and a historical market risk p (2) Find the sustainable growth rate using the retention ratio calculated based on data in 2022. Given the above-calculated discount rate and the sustainable growth rate, estimate the stock price in 2023 using Dividend Discount Model and Residual Income Model: (3) Estimate the stock price in 2023 using Dividend Discount Model . (4) Estimate the stock price in 2023 using Residual Income Model